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Awarded contract·Carroll County Government·Maryland

Group Flexible Spending Account Administration for Employees of Carroll County Government

Won by Flexible Benefit Administrators, Inc.$100kSingle Award
Contract source

Awarded vendors

  • Flexible Benefit Administrators, Inc.

Description

The contract is for the administration of Flexible Spending Accounts (FSAs) for employees of Carroll County Government. The contract was awarded to Flexible Benefit Administrators, Inc. The scope of work includes the administration of Health Care FSAs and Dependent Care FSAs. The contract is set to start on January 1, 2024. • The contract was awarded through a competitive bidding process, with a bid submission deadline of May 23, 2023. • The contract is for the provision of FSA administration services, including the administration of Health Care FSAs and Dependent Care FSAs. • The contract is set to start on January 1, 2024, but the end date is not specified. • The contract value is not explicitly stated, but it can be estimated based on the scope of work and industry standards.

Attached files

Key dates

Starts
1/1/2024

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Government
NAICS
541611
Solicitation №
15-F-3-22/23

Contract value

$100,000

The contract value can be estimated based on the scope of work and industry standards. The contract involves the administration of FSAs for employees of Carroll County Government, which likely has a large number of employees. Assuming an average annual FSA contribution per employee of $1,000 to $2,000, and an administrative fee of 5% to 10% per contribution, the total contract value could be in the range of $50,000 to $200,000 per year, depending on the number of employees and the administrative fees. However, this is a rough estimate and the actual contract value could be higher or lower.

AI estimate from the award documents

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